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{
    "id": 1000979,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1000979/?format=api",
    "text_counter": 212,
    "type": "speech",
    "speaker_name": "Amb. Ukur Yatani",
    "speaker_title": "The Cabinet Secretary, National Treasury and Planning",
    "speaker": null,
    "content": "The total expenditures in the Financial Year 2020/2021 are projected at Kshs2.79 trillion or 24.7 per cent of the GDP from the estimated level of Kshs2.77 trillion or 27.2 per cent of the GDP in the Financial Year 2019/2020. The Recurrent Expenditure in the Financial Year 2020/2021 will amount to Kshs1.82 trillion or 16.2 per cent of the GDP. On the other hand, ministerial development expenditures that include foreign financed projects, allocation to contingencies fund and conditional capital transfers to county governments are projected at Kshs633.1 billion in 2020/2021. This will finance critical infrastructure in the budget. Hon. Speaker, taking into account the projected revenues and expenditures in the Financial Year 2020/2021, the fiscal deficit, including grants is projected to decline to Kshs840.6 billion or 7.5 per cent of the GDP from Kshs842.7 billion or 8.3 per cent of the GDP in the financial year 2019/2020. Going forward, Hon. Speaker, as we roll out the Post COVID-19 Economic Recovery Strategy, we remain committed to gradually lowering the fiscal deficit to Kshs768.8 billion or 6.1 per cent of the GDP in the Financial Year 2021/2022 and further to Kshs570.4 billion or 3.6 per cent of the GDP by 2023/2024. In the Financial Year 2020/2021, the fiscal deficit of Kshs840.6 billion will be financed through net external financing of Kshs347.0 billion, or 3.1 per cent of the The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}